7.02.010 Title, Purpose and Applicability

(a) Title. This chapter shall be known as the "Saint Regis Mohawk Secured Transactions Ordinance" (the "Ordinance").

(b) Purpose. The purpose of this chapter is to recognize that, under the law of the Saint Regis Mohawk Tribe (the "Tribe"), a federally recognized Indian tribe, except as otherwise provided in this chapter, secured parties under a certain Construction and Term Credit Agreement entered into as of August _____, 2008 between the Te Wà Tha Hón:Ni Corporation, Akwesasne Mohawk Casino, LLC, Mohawk Bingo Palace, LLC, KeyBank National Association, as joint lead arranger and administrative agent, Jefferies Finance LLC, as joint lead arranger, RBS Citizens, N.A., as documentation agent, and the several banks and other financial institutions from time to time a party thereto (the "Credit Agreement") shall have the same rights with respect to collateral securing the Obligations described in the Credit Agreement that is subject to the sovereign authority of Tribe as would exist if all aspects of the security interest (including but not limited to its creation, attachment, perfection, and priority) had been governed by the New York UCC, without regard to the choice of law principles set forth therein.

(c) Applicability. This chapter shall apply only to security interests and collateral securing the Obligations described in the Credit Agreement.